Carrefour cuts forecast due to unrest in France — Cyprus Mail

French supermarket chain Carrefour has lowered its forecast for annual financial results due to unrest, looting and curfews in France. The company estimates the potential impact of these events on operating income at between €80 million and €200 million, Cyprus Mail reports.

Losses and store closures

Carrefour CEO Alexandre Bompard said that about 50 stores in the chain were affected on the first day of the unrest, with many of them looted. According to him, the company is helping employees resume operations at affected outlets as soon as it is safe to do so.

Chief Financial Officer Matthieu Malige said direct costs amount to tens of millions of euros. They are related to stolen or destroyed goods, damage to stores and equipment, as well as the forced closure of retail outlets.

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The company’s new forecast

Carrefour now expects flat or slight growth in adjusted earnings per share in 2026. Previously, the retailer had forecast high single-digit percentage growth in this indicator. The company also expects a slight decrease in free cash flow compared with 2025.

Due to expectations of unrest, the chain closed many of its 6,000 stores in the country, including on Sunday and Monday. Carrefour’s costs also increased because of security measures, including the hiring of private security. According to Malige, Carrefour was among the retailers hit hardest because of its extensive network of convenience-format stores in cities such as Paris, Lyon and Marseille.

The company cut its annual forecast for capital investment in France to €1.6 billion from the previously planned €1.7 billion. The unrest is taking place at the beginning of the important fourth-quarter trading period for retailers, while Carrefour was preparing to launch pre-Black Friday sales in the coming days.